Summary: This article describes when and how to use the Reclass option for Invoices.
When an Invoice has been paid, but expensed to the wrong GL, it's often necessary in other systems to write a Journal Entry to correct this. In Vantaca, we can do all this with the click of a button! Using the Reclass option on an invoice will allow changes to the GL, Fund, or even the Bank Account.
To Reclass, first find your check. The easiest way to do this is from the Accounting > Bank Register page. Once you have found your payment, click the drop-down arrow to see the invoice details. Click the Reclass Button.
- From the Edit Reclass window, choose the Reclass Date.
- Note: You can only reclass an invoice in an open period. If the period has been closed, you will need to reopen it on the Association > Settings page, scroll down to the Last Fiscal Period, and open it for the month you're adjusting. Just remember to close it again when complete.
- The fields to the left will show the Current GL Account, Fund, Bank Account, and Amount. The "New GL Account", etc fields will allow you to change, or Reclass, any of the necessary fields just by clicking on them and entering your new data.
- Note: The bank account can ONLY be reclassed before the invoice has been approved.
- If a 2nd or subsequent GL needs to be added, click the New GL button.
- Make sure the Amount of all GLs totals the Invoice Total at the bottom of the window.
⚠ Note: Only add a New GL if you require additional GL Accounts. If the same overall number of GLs are required, simply change the "New GL Account" entry. ⚠
You can reclass the Invoice multiple times. Each time you reclass the Invoice, you will follow the same procedures. While you will not see reclass history on this screen, they will appear in both journal entries, and by clicking the View History button for the individual invoice, located next to the Reclass button.